Fintel reports that on May 3, 2024, Itau BBA upgraded their outlook for Apple (NasdaqGS:AAPL) from Underperform to Market Perform.
Analyst Price Forecast Suggests 17.25% Upside
As of May 2, 2024, the average one-year price target for Apple is 202.87. The forecasts range from a low of 159.58 to a high of $262.50. The average price target represents an increase of 17.25% from its latest reported closing price of 173.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple is 436,698MM, an increase of 14.43%. The projected annual non-GAAP EPS is 6.93.
What is the Fund Sentiment?
There are 6,835 funds or institutions reporting positions in Apple. This is an increase of 270 owner(s) or 4.11% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 3.42%, an increase of 9.53%. Total shares owned by institutions increased in the last three months by 1.26% to 10,091,612K shares. 
The put/call ratio of AAPL is 0.69, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 905,560K shares representing 5.86% ownership of the company. In its prior filing, the firm reported owning 915,560K shares , representing a decrease of 1.10%. The firm increased its portfolio allocation in AAPL by 0.31% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 463,726K shares representing 3.00% ownership of the company. In its prior filing, the firm reported owning 462,496K shares , representing an increase of 0.27%. The firm increased its portfolio allocation in AAPL by 0.76% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 357,127K shares representing 2.31% ownership of the company. In its prior filing, the firm reported owning 353,158K shares , representing an increase of 1.11%. The firm increased its portfolio allocation in AAPL by 0.45% over the last quarter.
Geode Capital Management holds 300,823K shares representing 1.95% ownership of the company. In its prior filing, the firm reported owning 296,103K shares , representing an increase of 1.57%. The firm increased its portfolio allocation in AAPL by 0.29% over the last quarter.
Price T Rowe Associates holds 210,827K shares representing 1.37% ownership of the company. In its prior filing, the firm reported owning 216,308K shares , representing a decrease of 2.60%. The firm increased its portfolio allocation in AAPL by 0.50% over the last quarter.
Apple Background Information
(This description is provided by the company.)
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple’s software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak’s Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.
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